Crypto trading is dominated by young men, particularly those under the age of 30.

According to a crypto trading expert, women and elderly investors are generally keeping out of the crypto mania, leaving mainly young men to be the driving force behind crypto rallies and lows.

Men make up 79 percent of the app's users, compared to just 21 percent of female users. There's a widening gender gap in the Bitcoin community compared to other investments, according to latest statistics from the Office for National Statistics (ONS).

So, is it overconfidence?

Barber and Odean found that men trade stocks 45% more frequently than women, which is a symptom of overconfidence because overconfident investors trade excessively

If we see from that research study that men are, on average, more inclined to be overconfident, that overconfidence could be helping to drive the heavier representation of men in these much more speculative markets. It really takes a bit of a hope and a prayer to believe that these assets are going to be long-term, reliable investment performers.”